This Week in Fintech (3/27)

This Week in Fintech (3/27)

Hello Fintech Friends,

Welcome to a (slightly slower-than-usual) week of fintech M&A!

Please find another week of fintech exits below.

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☯️ Exits

💻 IPOs & SPACs

  • Indonesian superapp builder GoTo Group raised about $1.1 billion in its IPO.
  • Japanese crypto exchange Coincheck announced that it will list on the Nasdaq via a merger with the SPAC Thunder Bridge Capital Partners IV at a $1.25 billion valuation.

🤝 M&A - Fintech

  • Apple quietly acquired UK open banking credit underwriting startup Credit Kudos for $150 million, likely to help expand its Apple Card in the country.
  • Validus, a Singaporean small business lending fintech, will acquire Citibank’s Singaporean business loan portfolio.
  • Crypto exchange announced that it will acquire Altonomy’s over-the-counter trading desk.
  • Neobank Chetwood Financial acquired its core banking provider Yobota.

🏦 M&A - Bank and FinServ

  • Uruguay’s Banco Itaú will acquire 30% ownership of Uruguayan fintech companies Prex and Paigo. Prex offers digital financial services to 1 million clients across Argentina, Uruguay, and Peru, while Paigo provides financial services for the unbanked.
  • The London Stock Exchange Group will sell its $1 billion BETA+ wealth assets to a consortium of private equity investors.

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🌎 Fintech Around the World

The Flip: Egyptian Tailwinds

Demystifying the Indian BNPL market

Indian tax officials say crypto profits are like lottery wins

China’s central bank encourages ‘controllable risks’ in fintech innovation in Alibaba’s home province of Zhejiang

📚 Deeper Reads

Big Tech and fintechs extend grip on financial services

Banks Can Trump Fintech as Zero-Rate Era Ends (remember high-APY accounts?)

Will Banks Overtake Fintechs As Interest Rates Rise? Don’t Bet On It

We desperately need to disrupt our approach to retirement saving

Why Build, rent what you need – PaaS, the New Normal in Payments

Why did Apple buy Credit Kudos? Here are 3 possibilities…

Why is the Marshall Islands betting on a decentralized future?

Sign of the times: Klarna lets you pay for gas in installments

The southern Minnesota gophers are out this spring!

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